Thailand’s 10 Bridge Capital (formerly Hatton Equity Partners) has garnered $195 million in the first close of its fourth Thailand-focused private equity fund, defying the challenging fundraising climate for Southeast Asian fund managers.
The Bangkok-based private equity firm is planning to raise $250 million in total for 10 Bridge Fund IV, which will invest in buyout and growth equity deals in Thai businesses, according to its partner Samon Suwannarat. The fund’s first milestone, which accounts for 78% of the target, was backed by existing investors and relationships.